The S&P 500 is currently in a corrective phase. As evident from the chart above, the market is presently at minor wave 'a' at 4370.4. We anticipate a price decline in the form of minor corrective wave 'b,' indicating a short-term correction down to 4348.0. You might consider initiating a short position with a target range of 4348.0 to 4343.1. This setup will be invalidated should the market break above 4381.4. Remember to implement proper risk management strategies due to the occasional market volatility.
Trade Recommendations:
Wait for now
Silver Review
XAGUSD is currently undergoing a correction within the context of the major outer wave 'IV' at 22.822. This currency pair remains distinctly bearish, as the market has yet to complete the impulsive 'V' wave pattern. We anticipate a price drop, reaching at least 21.677, which corresponds to our target for the major outer wave 'V.' It's important to be aware that the validity of this setup would be compromised if the price were to breach 22.822. For your consideration, a short position might be viable, targeting the range of 21.677 to 21.567. Ensure the use of proper risk management techniques to effectively mitigate potential risks.
Trade Recommendations:
We're sellers for now
Gold Review
XAUUSD remains notably bearish, as the market continues to exhibit an impulsive phase. Presently, the market is in the process of forming both the outer major wave 'V' and the minor inner wave 'v.' We anticipate a price decline, reaching at least 1866.88. It's important to note that if the price deviates from our projected drop and instead surpasses 1894.85, this particular setup would lose its validity. A potential approach could involve considering a short position after a breakout below the support zone at 1883.56, with a target range of 1866.88 to 1865.82.
Trade Recommendations:
We're sellers for now
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